Our first post from Xlmauto consult
Things you need to know before you get your next car
Well , you need to know certain things about any car you have interest in , like read online reviews about them before approaching a car dealer or agent .
If you’re thinking about buying a car in 2015, start planning . Car buying is costly — typically the second most expensive purchase that most Nigerians make after their homes. To avoid making a bad decision, follow these 8 tips for car buying in 2015 and always .
Make a firm decision on what you can afford
Having your eye on a specific car is no help if you can’t afford it . Allocating no more than 20 percent of your monthly income is a good rule for car buying . This figure should include not only the monthly car loan payment, but all the costs to operate them, including gasoline costs and car insurance. Use budget calculator to help you determine your monthly bills and necessary savings .
what do you actually want ; A used car or New car ?
The term ” USED CAR ” means ” Tokunbo ” otherwise Foreign used cars .
Used cars ( tokunbo ) have been in high demand for several years now , making prices higher overall , while there is a wider array than ever of inexpensive new cars.
As a result, you may want to consider new and used cars that fit within your budget. There are trade-offs with each. Buying used means you can get a more expensive car for your money, but the trade-offs include not knowing the car’s history, a shorter warranty period during your ownership .
Buying a new car means you’ll get less car features for the same money, but you get the benefit of the full warranty as well as often free maintenance and roadside assistance, not to mention lower interest rates.
Find a better way to Narrow your buying choices
Take that list of cars you’ve noticed while driving around town and start researching them online. Visit the automaker websites and independent automotive information sites to assess the car’s features that are important to you and get an idea of inventory available in your area.
Don’t forget to note the manufacturers’ suggested retail prices and invoice prices when car buying. Choose cars that are at least 5 percent less than your monthly budget to give yourself some room to cover costs such as fuel, insurance, repairs and maintenance. Create a traditional paper or electronic file for your research, but don’t rush off to the dealership for a test drive yet .
Take your time to also use the reviews to select your choice before booking for a test drive .
Assess the total cost to own a car
Once you have a handful of cars in mind, see if you can afford them by estimating the ownership costs for each. An independent auto information website like ( Edmunds.com ) or ( cars.com ) will help you with cost of ownership data for your area (if you are buying the car from USA ) , but remember that these numbers will vary depending on your personal situation. Use these numbers to get the best calculation, but do your own calculation for gas based on the number of miles you drive annually and for insurance by calling your car insurance agent to get a quote for your household. Be prepared to tell the agent the exact car, including model, engine and sometimes certain options to get an accurate quote. it is better to do it this way .
Don’t assume dealership financing is the best deal
Don’t let your eagerness to test drive the cars that interest you find you at the dealership too soon. Dealers don’t just want to sell you a car. They want to get you to sign a car loan, too. Dealers typically receive a set fee or a commission on the car loans that they coordinate, regardless of whether that loan is from the manufacturer or a local lender they work with. Also, use caution if that offer seems too good to be true based on your credit or other loan approvals you’ve received. Dealers will sometimes indicate they can get you a great rate to get you to sign a contract, only to gloss over the section that says the car loan rate is contingent on the loan approval.
Have an idea of the invoice price
It is better to always have an idea of such before approaching a dealer for a test drive , that will help you in making certain decisions before rushing to get the desired car .
Be a savvy negotiator
When you have done your research and are ready to visit dealerships, call and ask to make an appointment for a test drive . That way, if you decide you are ready to buy, you will be working with someone who is less likely to strong-arm you into a deal. When you do start to discuss price, keep in mind all the discounts you researched and forget about trading in your car as part of the deal for the moment.
It’s easier to get the best price for each if you negotiate the sale price of your new car and the trade-in value of your old car separately. Make sure you do your research about your current car’s value online in advance so you know whether you are being offered a fair price. Once you’ve reached an agreement, be prepared to say no to all the extras you may be offered. Instead, do the research at home for whatever it is that interests you and contact the dealership at a later date to negotiate a fair price for that item.
Don’t rush the test drive
To get the most bang for your buck, you’ll want to keep your car for five years or longer, so take a thorough test drive to make sure you’ll be happy for the long term. Take extra time with the car parked to adjust the seats and experiment with the controls and the car’s other features. Make sure all of your typical passengers and cargo fit well and the passengers are comfortable — even if that means spending some time installing a child safety seat or putting your golf clubs in the trunk while you’re in the dealer’s lot. Finally, think about your life five years from now and try to imagine if this car will suit your needs then in terms of people and cargo.
At xlmauto consult we offer services like General consulting , auto parts , and also we help in buying cars . Before you get your next car , consult us at Xlm autos . [contact-form-7 404 "Not Found"]